Geithner Tells NBC S&P Shows "Stunning Lack Of Knowledge About Basic US Fiscal Budget Math"
Geithner was on NBC and when discussing the massively overdue S&P downgrade of US debt, shared the following pearl of wisdom: "S&P decision to cut U.S. credit rating shows stunning lack of knowledge about basic U.S. fiscal budget math." Listen to Tim: when it comes to stunning lacks of knowledge about things, Tim is the absolute expert, although in his case it is mostly the US tax code. He added that S&P made a "terrible judgment" and reached the wrong conclusion. He is right. The cut should have been at least several more notches. But there is time... Lastly, and most expectedly, he added that the S&P decision changed nothing on the safety of Treasuries and that China remains a strong investor in the US. Perhaps. We shall see after the TIC statement from October is released, which will detail August transactions. Alas, by then the world will have other issues to deal with.
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Geithner submits his Letter of Retardation....
Fucking hilarious!!
All this bickering back and forth seems to me like a bunch of charades to deflect people's attention away from the fact that a bunch of insiders had inside information and got the hell out of dodge before the shit hit the fan last week. Instead of listening to what these criminals are bickering over, we need to demand an investigation into who knew what, when and how.
If you are talking about all the Christian dudes that had come back from three weeks in the Grove last week, then duh!
"fact that a bunch of insiders had inside information and got the hell out of dodge before the shit hit the fan last week"
Quote of "this" week !
Yes, which fox currently guarding the hen house do you propose to do the investigating?
Tuco
And believe it or don't, NBC is surprised their boy is a feckless and callow idiot. Now, how do they build him up again as the nation's savior? It worked before...
One of the best comments I've read in a long time!
Turbo Tax Timmah pontificates on math...it just doesn't get any better...LOL!!!
And remember that Chinese STUDENTS literally LAUGHED in Geithner's face when he went there spewing his BS about two years ago. Everyone with a brain knows Geithner's is a dolt and the 5% yearly growth the US Gov is judging their numbers on is a farce.
Is it your opinion that those numbers are too low? Do you think we will have growth over 5 percent for the foreseeable future? Just messing with you. He really is a douche.
The problem with that, MarketTruth, is that the Chinese models are even more farcical.
Proof then that the Chinese know farcical when they see/hear it.
Yes, that's a good thing to be remembering. I laughed out loud when I came to the part about China remains a strong buyer of treasuries. Less and less so all the time. What do you call this? If the Band plays a little louder, maybe the bows won't sink any further into the Atlantic?
Math hysteria.
Mass hysteria with a lisp? LOL
Although I guess that would be 'math hythteria.'
That's as funny as Obama becoming a golf pro.
ROTFLMAO!!!
By virtue of being a politician he was already a "pro".
Yes, like Bill Clinton the best wood in his bag is his "pencil"!
Tuco
No risk at all for a downgrade remember. This guys knows his shit.
Anyone else having issues with zh loading?
yep
Anyone else having issues with zh loading?
yes. And something called Pressflow / Drupal telling me that I cannot connect to ZeroHedge.
Transitory
Fucking weasel.
his own stunning lack of knowledge!
OMG. I think I've just pissed myself laughing so hard!
clean up crew to Aisle Wight!
Lol. To aisles of Greece?
I am still amazed that such garbage can flow from the mouth of mr jeethner.
I'm telling you -- BHO and his administration are beyond arrogant. They know what is true and, worst yet, they know what is best for the people. Central planning is the end game.
http://thepeoplescube.com/images/Obama_Hope_Negative_2.jpg
No! The end game is "eugenics"!
Tuco
This from the guy that couldn't figure out his tax software!!!!!!!!!!!
No...this from the guy who SAID he couldn't figure out his tax software...Turbo Timmy.
There once was a Klepto named Tim
Who everyone thought was quite dim
With cunning and stealth
He stole all their wealth
Now laughing the loudest is him.
Imagine a "Weird"Al Yankovich redoing this song. It's even about Canabilism!\
http://www.youtube.com/watch?v=DGNdvKvbxYQ
This site is too funny. Don't you know your leaders reflect your people.
I haven't voted since We the Sheeple failed to elect Perot in 1992!
Moreover, there's a HUGE section of the USoA that didn't CONSENT to the (D) & (R) Free Shit Empire™...
So from an A-M-E-R-I-C-A-N, not a POS DemoRAT -or- GOPher, I don't find the District of Criminals funny one fuckin' bit!
Did you know if you rescind your voting rights you can then challenge paying income tax remember "taxation without representation" well it works the other way round.
You first!
I keep paying my protection money to the FSA mob, as I'm outnumbered at least 1,000,000 -to- 1 :-(
The only problem is that the Free Shit Empire/Army is the only reason people don't knock down your door and loot your ass dry.
Ha, ha. When the looting comes it certainly "will be" the Free Shit Empire/Army. Have you not yet figured out that the Department of Homeland Security was established to be used against the American people!? Knock, knock:)
Tuco
Then they might want to be prepared to move rather quickly. Social order is being lost on more than just individual circles these days. If it ever gets above a _small_ mob...
First off, they are our representatives, not our "leaders". Second off, the crowd on ZH is mostly not the run-of-mill brain dead American that is reflected by the clowns in office.
Come on now Ramboy, tell us what pristine leader you have in your pristine country.
Bet you don't have the guts to tell the truth.
If ya can't take a punch in the mouth then, read, don't comment on ZH.
In case you weren't aware of it, our government was captured by bankers circa 1913. We the people, have had little say in matters since then. No denial here, just harsh, painful truth.
But our leaders do not reflect ZeroHedge.
NATION FULL OF DENIAL
My Winkie is bigger than your winkie. Poop.
I am amazed that so many hard working god fearing americans will watch that interview and believe mr. jeethner.
Boobicus Americanus is easily fooled.
The god fearing ones will beieve anything; argument proven as delivered.
LIARS & WHORES
What an arsehole. He's going to down in history next to Bozo the Clown.
It's a terminal condition.
The plane would fly so much better without any instruments.
Is this your way of saying he is a tool?
Amazing.... someone believes the plane is still flying.
As to his failure to pay the payroll taxes from 2001 to 2004 while he worked for the International Monetary Fund, Geithner said: "These were careless mistakes. They were avoidable mistakes."
"But they were unintentional," he said. "I should have been more careful."
S&P should sprinkle those 4 quotes into its defense memos.
Skanks in NY watch the housewives of NY and actually think they're nothing like that
+2011
I see that every day.
Ramboy
You must be from out of the country. If you've been to NY then you would know skank and housewife are one and the same.
Life denying art imitating life.
Thank God has only a basic understand of inflationary math. Tough to understand how you can rate something AA+ that pays back .50 to the dollar over 12 years.
Duhh! plus two. what happened to the thumbs up button; is this the new new normal, or is this just my Chrome browser expressing it's "individuality".
Supa Timma!
No fudge button on their calculator.
Sounds like Timmy has a case of the vapors. Oh, the trials and tribulations of the one-balled man!
waiting for Banzai to rip him apart..yet again :)
You will let us know when the world ends right? Gold and silver gap 1or 2k and Es gap at least a 500.
Im waiting untill i see a headline: "The world has ended, thank you for playing."
I should'n joke it could be tomarrow. But untill the world ends im just a guy who jumped out a window and as i pass each floor i say ( so far so good).
Still im glad i found this site. Hopefully the finacial world will not end tomarrow.
If it does Walmart looks to see aome solid sales.
WMT's same store sales are in freefall. Google Howard Davidowitz.
Further, think about it, their core customers (low income) are the ones getting butchered. How can they do well?
SNAP
And a real question:
Does anyone actually believe that SNAP/Food Stamps/UI Benefits/SS last another two years in present form?
See "Brookers" on youtube; "paste, I like to eat paste".
Wallymart-typical short term thinkers. All the Chinese shit is coming to haunt them.
But they're getting a lot of new low income core customers from the (ex)-middle class. They're just shopping at Target for a month or two on their way down to the sewer.
The headline will say "World has ended. Women and minotities hardest hit."
Did you mean to say, "Women and Mini-titties hardest hit"?
Wow... And he's in charge of the US government's money. It pretty much explains everything.
What an idiot. He can say this because now QE 3 begins on Monday. Ben's printer has gone thru multiple toner cartridges today as he is going to try and absorb all the sales orders tomorrow.
What is even worse is the GSE's debt got a downgrade from this also. My be is they try to protect Treasuries and the GSE's get crushed.
Sold to him; he might be the only bidder come tomorrow morning.
Israel down 7%, Brazil down 6% today.
If this continues, we probably circuit-breaker at the open, and then ALL bets are off.
Timmy is right. Be a patriot. Stand by him. Defend your country from the S&P.
We're too busy pulling a train on your sister.
Harsh.
That d-bag has been trolling all day.
timmah is tremendously full of shit and lying thru his bankster teeth. of course.
Yeah, it didn't change anything. US debt is still junk, or at best-near junk.
But fuck it, I'm happy the world isn't (yet) ending, as that gives more time to accumulate silver, and for my industrial panic scenario to play out. To be honest, I was damn scared today, and seeing things NOT blow up in an unprecedented manner makes me quite happy.
+1
Tuco